Payment transfer processing system

Abstract

Systems and methods for processing payment transfers are disclosed. The system may allow senders to remit payments to receivers. The system may receive a payment request. The system may execute a payment risk analysis on the payment request to determine a risk assessment. Based on the risk assessment, the system may invoke a payment processor to complete the payment request. The payment processor may transmit a debit pull to a sender bank. In response to receiving the debit pull the sender bank may debit the payment amount from a sender account from the sender data. The payment processor may transmit a credit push to a receiver bank. In response to receiving the credit push the receiver bank may credit the payment amount to a receiver account from the receiver data.

What is claimed is: 
     
         1 . A method comprising:
 executing, by a processor, a payment risk analysis on a payment request, wherein the payment request comprises sender data, receiver data and a payment amount, and wherein the payment risk analysis determines a risk assessment associated with the payment request;   generating, by the processor, a payment processing request in response to the risk assessment comprising a low risk;   transmitting, by the processor and based on the payment processing request, a debit pull to a sender bank from the sender data, wherein in response to receiving the debit pull the sender bank debits the payment amount from a sender account from the sender data; and   transmitting, by the processor and based on the payment processing request, a credit push to a receiver bank from the receiver data, wherein in response to receiving the credit push the receiver bank credits the payment amount to a receiver account from the receiver data.   
     
     
         2 . The method of  claim 1 , wherein the debit pull and the credit push are transmitted simultaneously or near simultaneously. 
     
     
         3 . The method of  claim 1 , further comprising:
 transmitting, by the processor, an authentication challenge in response to the risk assessment comprising a medium risk;   receiving, by the processor, an authentication challenge response based on the authentication challenge; and   validating, by the processor, the authentication challenge response by comparing the authentication challenge to the authentication challenge response.   
     
     
         4 . The method of  claim 1 , further comprising declining, by the processor, the payment request in response to the risk assessment comprising a high risk. 
     
     
         5 . The method of  claim 1 , wherein the executing the payment risk analysis comprises validating, by the processor, sender bank data from the sender data, wherein the sender bank data is validated by verifying sender bank login information from the sender bank data and validating that the sender account comprises sufficient funds to complete the payment request based on the payment amount. 
     
     
         6 . The method of  claim 1 , wherein the executing the payment risk analysis comprises:
 capturing, by the processor, a user device characteristic from a user device; and   determining, by the processor, the risk assessment by comparing the user device characteristic to historical transaction fraud data.   
     
     
         7 . The method of  claim 1 , further comprising assigning, by the processor, a unique identifier to the payment request. 
     
     
         8 . The method of  claim 7 , wherein the unique identifier comprises a legacy identifier compatible with a legacy payment system, and wherein the legacy identifier comprises a checking account number, a savings account number, a credit card number, a commercial account number a commercial charge card number, or a direct deposit account number. 
     
     
         9 . The method of  claim 1 , further comprising approving, by the processor, the payment request in response to receiving a debit notification from the sender bank and a credit notification from the receiver bank. 
     
     
         10 . The method of  claim 9 , wherein the payment request is initiated between a customer and a merchant as payment for a transaction, and wherein in response to the debit pull and the credit push being transmitted the merchant completes the transaction with the customer. 
     
     
         11 . A system comprising:
 a processor; and   a tangible, non-transitory memory configured to communicate with the processor, the tangible, non-transitory memory having instructions stored thereon that, in response to execution by the processor, cause the processor to perform operations comprising:   executing, by the processor, a payment risk analysis on a payment request, wherein the payment request comprises sender data, receiver data, and a payment amount, and wherein the payment risk analysis determines a risk assessment associated with the payment request;   generating, by the processor, a payment processing request in response to the risk assessment comprising a low risk;   transmitting, by the processor and based on the payment processing request, a debit pull to a sender bank from the sender data, wherein in response to receiving the debit pull the sender bank debits the payment amount from a sender account from the sender data; and   transmitting, by the processor and based on the payment processing request, a credit push to a receiver bank from the receiver data, wherein in response to receiving the credit push the receiver bank credits the payment amount to a receiver account from the receiver data.   
     
     
         12 . The system of  claim 11 , further comprising:
 transmitting, by the processor, an authentication challenge in response to the risk assessment comprising a medium risk;   receiving, by the processor, an authentication challenge response based on the authentication challenge; and   validating, by the processor, the authentication challenge response by comparing the authentication challenge to the authentication challenge response.   
     
     
         13 . The system of  claim 11 , further comprising declining, by the processor, the payment request in response to the risk assessment comprising a high risk. 
     
     
         14 . The system of  claim 11 , wherein the executing the payment risk analysis comprises validating, by the processor, sender bank data from the sender data, wherein the sender bank data is validated by verifying sender bank login information from the sender bank data and validating that the sender account comprises sufficient funds to complete the payment request based on the payment amount. 
     
     
         15 . The system of  claim 11 , wherein the executing the payment risk analysis comprises:
 capturing, by the processor, a user device characteristic from a user device; and   determining, by the processor, the risk assessment by comparing the user device characteristic to historical transaction fraud data.   
     
     
         16 . The system of  claim 11 , further comprising approving, by the processor, the payment request in response to transmitting the debit pull and the credit push. 
     
     
         17 . An article of manufacture including a non-transitory, tangible computer readable storage medium having instructions stored thereon that, in response to execution by a computer-based system, cause the computer-based system to perform operations comprising:
 executing, by the computer-based system, a payment risk analysis on a payment request, wherein the payment request comprises sender data, receiver data, and a payment amount, and wherein the payment risk analysis determines a risk assessment associated with the payment request;   generating, by the computer-based system, a payment processing request in response to the risk assessment comprising a low risk;   transmitting, by the computer-based system and based on the payment processing request, a debit pull to a sender bank from the sender data, wherein in response to receiving the debit pull the sender bank debits the payment amount from a sender account from the sender data; and   transmitting, by the computer-based system and based on the payment processing request, a credit push to a receiver bank from the receiver data, wherein in response to receiving the credit push the receiver bank credits the payment amount to a receiver account from the receiver data.   
     
     
         18 . The article of manufacture of  claim 17 , wherein the debit pull is transmitted at a first time and the credit push is transmitted at a second time, and wherein the first time is the same or proximate the second time. 
     
     
         19 . The article of manufacture of  claim 18 , further comprising approving, by the computer-based system, the payment request in response to transmitting the debit pull and the credit push, wherein in response to the payment request being approved the credited payment amount is available for use by a receiver associated with the receiver account. 
     
     
         20 . The article of manufacture of  claim 17 , wherein the executing the payment risk analysis comprises:
 validating, by the computer-based system, sender bank data from the sender data, wherein the sender bank data is validated by verifying sender bank login information from the sender bank data and validating that the sender account comprises sufficient funds to complete the payment request based on the payment amount;   capturing, by the computer-based system, a user device characteristic from a user device; and   comparing, by the computer-based system, the user device characteristic to historical transaction fraud data; and   determining, by the computer-based system, the risk assessment based on at least one of the validated sender bank data or the user device characteristic.